On July 16, 2025, Citigroup analyst Alexander Hacking announced the initiation of coverage on Novagold Resources (NG, Financial) with a "Buy" rating. This marks a significant development for the gold mining company as it seeks to attract investor attention and boost market performance.
In addition to the rating, Citigroup set a price target of USD 7.00 for Novagold Resources (NG, Financial). This target reflects the analyst's positive outlook on the company's future performance and potential growth in the gold mining sector.
The announcement by Citigroup highlights a newfound confidence in Novagold Resources (NG, Financial) and underscores the company's potential as an attractive investment opportunity under current market conditions.
As of the announcement, no prior price target was provided, indicating that this is a fresh evaluation by Citigroup. Investors may consider this as a key indicator for potential investment decisions regarding Novagold Resources (NG, Financial).
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for Novagold Resources Inc (NG, Financial) is $8.00 with a high estimate of $9.00 and a low estimate of $7.00. The average target implies an upside of 61.62% from the current price of $4.95. More detailed estimate data can be found on the Novagold Resources Inc (NG) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, Novagold Resources Inc's (NG, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
